When you are Goldman Sachs ordinary words take on extraordinary meanings: Lemonade: A structured-financial deal Goldman mixed up to make bad loans go down easy on investors. Used in a sentence, from a Goldman email: “They structured like mad and travelled the world, and worked their tails off to make some lemonade from some big old lemons.” … Continue reading
I revel in a good day every so often, as an attempt to avoid morphing into a grumpy old man. Recently I went to Lowe’s home Improvement Center with the goal of purchasing a “Shrub Rake”. I didn’t know there was such a thing as a shrub rake before I got there, I was just … Continue reading
I have an acquaintance in the packaging industry whose products utilize a super-strong cardboard. You can stand automobiles on boxes made of his cardboard; we are talking here about serious robustness. Their shipping containers are used to transport auto engines and heavy machinery. Sit in your car, raise your hand up to touch the ‘head-liner’ on … Continue reading
In a nutshell, the way financial institutions (Big Bank) make their money is by knowing more than the other guy (that would be you). They will famously say that their priority is to serve their customers, and that capitalism depends upon them for the efficient allocation of capital. Also, that they are all in favor … Continue reading
My father’s name was Jack. When I hear someone say “You don’t know Jack”, I think of him. This coming Saturday, HBO will air a film starring Al Pacino titled, “You Don’t Know Jack”. But it’s not about my dad, it’s the story of Dr. Jack Kervorkian and the end-of-life debate. Last week Anderson Cooper … Continue reading
Close on the hooves of our Skinny Cow report comes further bovine news from Wall Street, which we’ll put under the category of Fatted Calves. Fatted calf is a metaphor or symbol of festive celebration and rejoicing for someone’s long-awaited return. It derives from the parable of the prodigal son in the New Testament. In … Continue reading
I’m a fan of Skinny Cow products. Not only do they taste good, but their ‘spokes-cow‘ reminds me of the old Gateway computer boxes and appeals to my inner geek. If you scan through their product line-up you’ll notice that they have a great variety of flavors. But even more importantly, they deliver them to … Continue reading
Now that speculation has begun on the cause of Saturday’s tragic plane crash in western Russia that killed Poland’s president Lech Kaczynski and many of the government’s leaders, it’s tempting to imagine that the pilots were pressured into landing against their better judgement. Investigators examining the crash appeared to be focusing on why the pilot did … Continue reading
Last week we noted ATT’s whining about a $1 billion [non-cash] charge they were being forced to take because of Obamacare. In fact the new law just eliminated a 7-year old scam allowing them to ‘double-dip’ by taking a tax deduction on healthcare premiums that were actually being paid (for them) by the government. A … Continue reading
This teaching moment is in the spirit of our continuing drive for bipartisanship. It was Tip O’Neill who, as Speaker of the House, famously battled President Reagan, but still managed to get along. It would be a positive change if the relationship between Speaker O’Neill and President Reagan became a model for today’s politicians. [The] … Continue reading
As we approach April 15th., otherwise known as Tax Day, it’s time once again to mention the staggering corruption of the US Senate, the world’s ‘greatest deliberative body’. For well over three years (!) there has been an attempt to get rid of a loophole in the tax code granting hedge fund managers a lower … Continue reading